DUBAI, UAE, April 8, 2020 Post-lockdown, Finalrentals which is a rental car platform in the UAE was able to expand its network multifold post lock down.
Finalrentals is a service that lets Car Rental UAE Services share their digital space to let renters connect with multiple services on a single site. Recently, the service has added to its list of collaborators and thereby became available in more locations across the UAE.
Now, the rental car collection is expanded as well as the locations at which a customer can hire a car on rent. Now, a customer cannot only find multiple car options, but people can also be facilitated in more locations in addition to the 112+ locations that were already facilitated. Therefore, the more the merrier.
Why is it important? The current economic situation has put forth a requirement for the people. Car Rental UAE services are not a luxury or a want anymore… It has become a need. Discussion of the rental car industry and the importance of the expansion of its services is merely incomplete without discussing the current economic situation. It is because the significance of car rental UAE services is linked to the fact that the majority of the populace is not preferring to buy cars. So the question arises ‘Why so? And what alternative do people have?’
Availability of transportation services has become significant after the lockdown concludes. Life is getting back to normal where people are feeling safe to walk, drive, and ride on the roads. But the flip side is, ‘Here’s why UAE new car sales need time to recover from 2020 crash’ reads a headline from the Gulf News article. And today, there are 9,981,727 people according to Worldometer. This means that the majority among 9,981,727 people do not choose to buy a car. Instead, the UAE populace is focused more on Car Rental UAE services.
According to Michel Ayat, who is CEO of Arabian Automobiles Co., as well as the Renault, Nissan, and Infiniti Dealership ‘Many are questioning why they should buy a new car. There’s a shift from thinking about car ownership to user-ship – that’s a fact. Now, that’s the reason why they are moving towards car rentals or making do with buying used cars. Because of the pandemic, there were buyers who shifted from using public transport to renting a car… or buying a used one. It’s a sign of the times and the auto industry will just have to accept it.’
As Michel Ayat said ‘Because of the pandemic…’, the UAE economy did shrink 5.8% in 2020, which is now expected to grow 2.5% in 2021, according to Reuters.
In a nutshell, the whole scenario is that the economy is recovering from the impact of the Covid-19 pandemic. People are not buying cars, even those who were marked as ‘buyers’ have moved towards the car rental UAE option. Therefore, any expansion in car rental services like that of the Finalrentals is imperative. People need to be serviced and deserve a facilitated commute in times of difficulty.
However, the UAE’s economy is expected to recover by 2022. Arabian Business reports on the UAE economy forecast that UAE economic growth is predicted to outgrow the impact of Coronavirus by 2022. There are various industries that are expected to contribute to the economy of the UAE. One of them is the industry of Financial Technology. By 2022, 465 FinTech companies are expected to raise over $2 billion in venture capital funding according to the Milken Institute’s report about Financial Technology.
Finalrentals is an online service that lets renters connect with the car rental UAE services. To achieve this goal, it lets users utilize its website and application. It is available in more than 112+ locations across the UAE now and operating with an augmented car collection. A user can preschedule as well as hire a rental car via WhatsApp.